A Quote by Trip Hawkins
We want to make as big a market as we can with our current product.
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In the digital universe, our personal history and its sense of narrative is succeeded by our social networking profile - a snapshot of the current moment. The information itself - our social graph of friends and likes - is a product being sold to market researchers in order to better predict and guide our futures.
So my resolution this year is: I'm not a money guy, but I want to make our next product a commercial success, so that people will say, 'Hey, there's a huge market out there. If you make a high-quality games that can touch people, it's going to do great business.
Most fears are not even based on our current reality. They are the product of imagined fears conjured up in our minds - the product of our own fantasies.
When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done.
Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
Me and my daughter, we are obsessed with makeup and so are our followers, and we communicate, we want to know what they like, what they want, what is their perfect, ideal product that's missing on the market? So everything we create, we share and we give credit to our followers.
I've always believed that the best way you combat intellectual property theft is making a product available that is well priced, well timed to market, whether it's a movie product, TV product, music product, even theme-park product.
The worst thing that you can do in terms of bringing a product up to the market is to be two days after someone else has brought a similar product to the international market-It's dead.
The Middle East would always be an important trading partner in just a market sense, like America is a big market for us, Asia is a big market, Europe is a big market. You are going to have hundreds of millions of consumers there, from just a standard market point of view, from a very narrow American point of view.
Launching a successful product or startup has little to do with luck. Any business that gains traction on the market is the result of very careful strategizing and market analysis, not to mention the development of an original product or service.
"(Big name research firm) says our market will be $50 billion in 2010." Every entrepreneur has a few slides about how the market potential for his segment is tens of billions. It doesn't matter if the product is bar mitzah planning software or 802.11 chip sets. Venture capitalists don't believe this type of forecast because it's the fifth one of this magnitude that they've heard that day. Entrepreneurs would do themselves a favor by simply removing any reference to market size estimates from consulting firms.
One of the things I truly enjoy about my job is the dynamic nature of having a foot in each world - the world of the talent, who create our product - and the world of our business in which we market, distribute, and monetize that product.
I think, when I see entrepreneurs, they tend to talk about the market and the industry - which is obviously very important, but the most important thing is you're product. What are you selling? And does it really have product-market fit?
Socialized medicine allows a nation to exclude a U.S. product from its market if the U.S. firm does not make generous enough price concessions. Accordingly, what has developed is a system within which U.S. firms make large profits on new drugs in the U.S. market, but very low profits on sales everywhere else.
You can have the best product, but if you don't have a plan - a label pushing it, the support of a network - you can't make it big with a product. It's all about distribution.
The current market cost for a space flight, about a week in space and about six people have gone with the Russians so far to the International Space Station; it costs about $30 to $35 million. So, it's not for the faint of heart. But our own market studies that we've commissioned as well as some public market studies all indicate that there are somewhere around 20 or so individuals every year who have both the means and the interest to do this. So, the market is definitely out there.
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